Look at past names to see what was popular. Some wrestlers made the name one-of-a-kind, like Macho Man. Some added to their names, like "Stone Cold" Steve Austin. Then there were awkward failures, like Test.
Use a nickname that applies to your storyline. “Million Dollar Man” Ted DeBiase was a character who was obsessed with money. The Undertaker is obsessed with graves and the underworld. Figure out your character before choosing the name.
Choose a name that reflects some of your physical features. The Big Show, Andre the Giant and the midget wrestler Dink all had names that focused on their physical size.
Use your given birth name if you want to keep it simple. Many superstars have started off with their birth name and then add nicknames later. Some examples include Chris Jericho, Randy Orton and John Cena.
Base your name off a former superstar as a dedication. Ric Flair got his Nature Boy nickname from a former superstar, and you can do the same. Get permission before doing this, so that fans do not see it as a blatant rip-off.
Get help when choosing the nickname. Ask friends and family what nickname they think would suit you and your personality the best. They may come up with an idea you never thought of, and by opening the communication, you can brainstorm other ideas as well.